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SOMRS

State of Michigan Retirement System Portfolio holdings

AUM $22.6B
1-Year Est. Return 40.24%
This Fund
S&P 500
This Quarter Est. Return
-3.04%
1 Year Est. Return
+40.24%
3 Year Est. Return
+127.54%
5 Year Est. Return
+152.65%
10 Year Est. Return
+534.6%
AUM
$17.3B
AUM Growth
-$1.9B
Cap. Flow
-$1.06B
Cap. Flow %
-6.11%
Top 10 Hldgs %
32.47%
Holding
963
New
12
Increased
395
Reduced
310
Closed
19

Top Buys

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$35M
2
AVGO icon
Broadcom
AVGO
+$34.7M
3
VRT icon
Vertiv
VRT
+$18.2M
4
XYZ
Block Inc
XYZ
+$17.4M
5
DASH icon
DoorDash
DASH
+$17.3M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$585M
2
CVS icon
CVS Health
CVS
+$190M
3
T icon
AT&T
T
+$153M
4
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$43M
5
MSFT icon
Microsoft
MSFT
+$36.3M

Sector Composition

Rank Sector Weight
1 Technology 28.36%
2 Financials 12.46%
3 Healthcare 10.12%
4 Consumer Discretionary 9.98%
5 Communication Services 9.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HXL icon
826
Hexcel
HXL
$7.63B
$1.06M 0.01%
19,397
+200
+1% +$12.5K
EEFT icon
827
Euronet Worldwide
EEFT
$2.65B
$1.06M 0.01%
9,917
+100
+1% +$10.1K
VVV icon
828
Valvoline
VVV
$4.3B
$1.06M 0.01%
30,415
-100
-0.3% -$3.65K
BYD icon
829
Boyd Gaming
BYD
$5.92B
$1.04M 0.01%
15,824
+100
+0.6% +$7.33K
NEU icon
830
NewMarket
NEU
$8.37B
$1.04M 0.01%
1,837
– –
BKH icon
831
Black Hills Corp
BKH
$5.62B
$1.04M 0.01%
17,100
+200
+1% +$11.8K
SWX icon
832
Southwest Gas
SWX
$6.56B
$1.04M 0.01%
14,429
+200
+1% +$14.8K
APP icon
833
Applovin
APP
$113B
$1.03M 0.01%
3,900
– –
LITE icon
834
Lumentum
LITE
$63.3B
$1.03M 0.01%
16,528
+300
+2% +$23.1K
OGS icon
835
ONE Gas
OGS
$4.96B
$1.03M 0.01%
13,604
+200
+1% +$14.4K
BILL icon
836
BILL Holdings
BILL
$4.91B
$1.03M 0.01%
22,400
-200
-0.9% -$13.4K
ROIV icon
837
Roivant Sciences
ROIV
$25.8B
$1.02M 0.01%
100,800
-900
-0.9% -$9.73K
CNO icon
838
CNO Financial Group
CNO
$5.12B
$1.01M 0.01%
24,351
-100
-0.4% -$3.99K
VLY icon
839
Valley National Bancorp
VLY
$8.1B
$1.01M 0.01%
113,681
+1,200
+1% +$11.3K
AVT icon
840
Avnet
AVT
$7.99B
$996K 0.01%
20,705
+100
+0.5% +$5.06K
AN icon
841
AutoNation
AN
$6.88B
$995K 0.01%
6,148
– –
SLGN icon
842
Silgan Holdings
SLGN
$4.35B
$992K 0.01%
19,400
+200
+1% +$10.5K
SBRA icon
843
Sabra Healthcare REIT
SBRA
$5.28B
$990K 0.01%
56,649
+600
+1% +$10.1K
EXPO icon
844
Exponent
EXPO
$3.28B
$989K 0.01%
12,200
+200
+2% +$17.4K
FIVE icon
845
Five Below
FIVE
$13B
$983K 0.01%
13,122
+100
+0.8% +$8.79K
ORA icon
846
Ormat Technologies
ORA
$6.87B
$977K 0.01%
13,800
+300
+2% +$20.3K
KBH icon
847
KB Home
KBH
$3.47B
$967K 0.01%
16,638
– –
THO icon
848
Thor Industries
THO
$4.14B
$964K 0.01%
12,718
+100
+0.8% +$9.4K
KMPR icon
849
Kemper
KMPR
$1.55B
$962K 0.01%
14,396
+100
+0.7% +$6.63K
BDC icon
850
Belden
BDC
$5.28B
$962K 0.01%
9,598
– –
32 33
34
35 36

Similar funds

FAM
Fred Alger Management New York $22.8B AUM 64.63% 1-Year Est. Return
BA
Bridgewater Associates Westport, Connecticut $22.4B AUM 34.48% 1-Year Est. Return
Tiger Global Management
Tiger Global Management New York $22.8B AUM 30.07% 1-Year Est. Return
Capital Fund Management (CFM)
Capital Fund Management (CFM) Paris, France $22.1B AUM 20.49% 1-Year Est. Return
CAM
Cresset Asset Management Chicago, Illinois $23.1B AUM 27.04% 1-Year Est. Return
DSA
Davis Selected Advisers Tucson, Arizona $21.8B AUM 23.45% 1-Year Est. Return
CHP
Castle Hook Partners New York $23.4B AUM 158.96% 1-Year Est. Return
IC
IEQ Capital Foster City, California $21.5B AUM 75.26% 1-Year Est. Return

State of Michigan Retirement System's Q1 2025 Portfolio in Review

As of Q1 2025, State of Michigan Retirement System held 963 positions worth $17.3B, down 9.9% from $19.2B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

State of Michigan Retirement System withdrew a net $1.06B in Q1 2025, closing 19 positions and reducing 310 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $18.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Michigan Retirement System opened a new position in DoorDash worth $16.8M.

  • State of Michigan Retirement System's largest Q1 2025 buy was DoorDash: 92,000 shares worth $16.8M.
  • State of Michigan Retirement System added most to JPMorgan Chase in Q1 2025, an estimated $35M increase.
  • State of Michigan Retirement System's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $585M.
  • State of Michigan Retirement System fully exited iShares Biotechnology ETF in Q1 2025, selling an estimated $18.1M.
  • State of Michigan Retirement System's ten largest holdings make up 32% of its $17.3B portfolio in Q1 2025.
  • State of Michigan Retirement System opened 12 new positions and closed 19 in Q1 2025.
  • State of Michigan Retirement System's portfolio value fell 9.9% quarter-over-quarter to $17.3B.

Based on State of Michigan Retirement System's 13F filing for Q1 2025, filed 30 Apr 2025.